Fast Asia Open: Australia rates decision, Philippines CPI

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The dollar is back! Or it was for a moment, in any case.

The dollar index measuring the greenback against a basket of peers scrambled above the 100-point mark once again on Monday, but fell back to close the day at 99.896 as concerns over political and economic uncertainty in the US under the Trump administration persisted.

Whether it can get a second (third?) wind may be answered during Asia trade, as Australia’s S&P/ASX 200 is already down 0.5 per cent, while Tokyo’s broad Topix index is expected to open 0.6 per cent lower – moves that often correlate with regional currency weakness against the dollar.

However, Hong Kong’s Hang Seng index, comprised of stocks denominated in the territory’s dollar-pegged currency, is also set for a 0.1 per cent fall at the open, suggesting investors may simply be down on equities.

Corporate earnings reports out today include Sumitomo (14.00), Bandai Namco (14.00), Nissin Food (14.00) and Tata Steel.

The economic calendar for Tuesday is light, but not too light (all times Hong Kong):

  • 09.30: Philippines consumer inflation
  • 11.30: Reserve Bank of Australia rates decision
  • 15.00: Malaysia foreign reserves
  • 16.00: Taiwan imports, exports and trade balance
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